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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (22565)	5/7/1999 11:48:00 AM
From: doug-e-mini	Read Replies (1) \| Respond to of 44573

SPM (pit session) opened at 1345.50. Yesterdays close was 1342.30 The mini opening is irrelevant as it opens at 4:30 pm et

To: Chip McVickar who wrote (22565)	5/8/1999 9:16:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

You don't have an Open on the SPX until a certain percentage is trading. I forget, I think it may be 80%. Problem may be, until the SPX is Officially trading a service may be just ticking the prior day's Closing Price until new data is sent. So you may or may not "see" the gap on your charts or quote. Depends on the service. BMI does not give you the "proper" Open in my experience for example. On the Futures however you will see a gap if one exists. One generally accepted misconception, there are no "programs" on the Open as CNBC says. You cannot have programs hitting the Cash Market until the Cash is Open. The Cash may Open quickly or late but either way Programs cannot physically "hit" if the stocks in the baskets aren't trading. I know you did not say that but it's a bit of trivia that I was thinking of so I thought that I would mention it.